On July 18, the European Commission signed the new Memorandum of Understanding on a Strategic Partnership in the Field of Energy with Azerbaijan to increase imports of Azerbaijani natural gas to Europe by at least 20 billion cubic meters (bcm) annually by 2027. “Today … we are opening a new …

German businesses and public institutions should heat their offices no higher than 19 degrees Celsius (66.2 degrees Fahrenheit) this winter to help reduce the country’s consumption of natural gas, Germany’s economy minister said Saturday. Germany, the European Union’s biggest economy, is quickly trying to wean itself off using natural gas …

Oman’s total oil exports saw an increase of 16.2 percent untill the end of June 2022 according to the latest statistics of the National Centre for Statistics and Information (NCSI). The report said that China topped the list of the Sultanate’s oil importing countries till the end of June 2022 …

Lebanon and Iraq renewed their fuel agreement today. Lebanese Prime Minister Najib Mikati said in a statement that the agreement has been renewed for one year, with the same conditions as the previous deal. Iraq and Lebanon signed an agreement last July for Iraq to provide Lebanon with 1 million …

Hungary said Saturday that Russia has started delivering additional gas to the EU member following a July visit to Moscow by its foreign minister. Hungary’s Foreign Ministry said trade negotiations with Moscow “led to an agreement”, resulting in Russia’s Gazprom starting to deliver “above the already contracted quantities” on Friday. …

Spokesman for Iraq’s Ministry of Electricity said that the country was negotiating for more electricity to be imported from Iran. Ahmed al-Ebadi said in an interview with the Iraqi news outlet Middle East News on Saturday that Baghdad was negotiating with Iran to import more electricity. Al-Ebadi said that the …

Global oil demand will rise more than previously forecast this year as heatwaves and soaring gas prices are prompting countries to switch fuels for power generation, the International Energy Agency has said. Oil prices have dropped by $30 per barrel from a peak in June due to growing supplies and …

An Iranian tanker will soon return to the country with its oil shipment, months after it was detained off the Greek coast as part of a US crackdown on Iranian crude exports. The cargo of oil confiscated from the Lana is currently being transferred back to the vessel, Iran’s embassy …

Oil shipments from Russia through a critical pipeline to Czechia resumed on Aug. 12 after more than a week, the Czech pipeline operator Mero said.Czechia became the last central European country after Slovakia and Hungary to receive deliveries from the southern branch of the Druzhba pipeline after a problem over …

As hydrocarbons producers reap sustained revenue from high global prices, national oil companies (NOCs) in the Gulf are accelerating investment in carbon capture, utilisation and storage (CCUS); hydrogen; and other green energies to make their activities less carbon-intensive and support the energy transition. Last week Saudi Aramco reached a deal …